Sprott Inc. Buys 6,806 Shares of MP Materials Corp. $MP

Key Points

• Sprott Inc. has increased its stake in MP Materials Corp. by 11.6%, acquiring an additional 6,806 shares during the first quarter, bringing its total holdings to 65,709 shares, valued at approximately $1.6 million.
• The recent earnings report for MP Materials showed a revenue growth of 83.6% year-over-year, with a quarterly revenue of $57.39 million, surpassing analyst estimates.
• Analysts have generally favorable views on MP Materials, with five analysts giving it a Buy rating and raising the consensus price target to $60.63.

Sprott Inc. increased its stake in shares of MP Materials Corp. (NYSE:MP - Free Report) by 11.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 65,709 shares of the company's stock after acquiring an additional 6,806 shares during the quarter. Sprott Inc.'s holdings in MP Materials were worth $1,604,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Quantbot Technologies LP bought a new position in MP Materials during the first quarter worth $2,693,000. Northern Trust Corp boosted its stake in MP Materials by 6.6% during the first quarter. Northern Trust Corp now owns 1,043,127 shares of the company's stock worth $25,463,000 after acquiring an additional 64,843 shares in the last quarter. American Century Companies Inc. boosted its stake in MP Materials by 9.5% during the first quarter. American Century Companies Inc. now owns 46,112 shares of the company's stock worth $1,126,000 after acquiring an additional 4,018 shares in the last quarter. Sei Investments Co. boosted its stake in MP Materials by 155.5% during the first quarter. Sei Investments Co. now owns 25,631 shares of the company's stock worth $575,000 after acquiring an additional 15,601 shares in the last quarter. Finally, Resona Asset Management Co. Ltd. boosted its stake in MP Materials by 24.0% during the first quarter. Resona Asset Management Co. Ltd. now owns 6,675 shares of the company's stock worth $173,000 after acquiring an additional 1,292 shares in the last quarter. 52.55% of the stock is owned by institutional investors.

MP Materials Stock Performance

Shares of MP stock opened at $68.3120 on Friday. The firm has a market cap of $12.10 billion, a price-to-earnings ratio of -108.43 and a beta of 2.30. The company has a debt-to-equity ratio of 0.83, a quick ratio of 3.12 and a current ratio of 3.60. MP Materials Corp. has a 52 week low of $12.31 and a 52 week high of $82.50. The firm's 50-day simple moving average is $52.68 and its two-hundred day simple moving average is $33.87.

MP Materials (NYSE:MP - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The company reported ($0.13) EPS for the quarter, topping the consensus estimate of ($0.16) by $0.03. The business had revenue of $57.39 million for the quarter, compared to analyst estimates of $44.84 million. MP Materials had a negative net margin of 41.87% and a negative return on equity of 9.34%. The company's revenue for the quarter was up 83.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.17) earnings per share. As a group, equities analysts forecast that MP Materials Corp. will post -0.19 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts recently issued reports on MP shares. JPMorgan Chase & Co. increased their target price on shares of MP Materials from $18.00 to $64.00 and gave the stock a "neutral" rating in a research note on Monday, July 21st. Wall Street Zen raised shares of MP Materials from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. Canaccord Genuity Group raised their price target on shares of MP Materials from $64.00 to $77.00 and gave the company a "buy" rating in a research report on Friday, August 8th. Cfra Research raised shares of MP Materials to a "moderate buy" rating in a research report on Monday, August 11th. Finally, Cowen reissued a "buy" rating on shares of MP Materials in a research report on Friday, August 8th. Five investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $60.63.

MP Materials Profile

MP Materials Corp., together with its subsidiaries, produces rare earth materials. The company owns and operates the Mountain Pass Rare Earth mine and processing facility in North America. It holds the mineral rights to the Mountain Pass mine and surrounding areas, as well as intellectual property rights related to the processing and development of rare earth minerals.

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